New-concept flood insurance could help Bangladesh’s poor

Monday, April 14, 2014

A new insurance scheme in which pre-determined flood thresholds trigger speedy compensation offers hope for poor people in flood-prone Bangladesh, experts say.

“Floods adversely impact the ability of the poor to earn a livelihood both by destroying assets and limiting opportunities for labour,” said Snehal Soneji, Oxfam International’s Bangladesh country director.

“This [insurance] product is index-based and operates at the meso-level, which means that payout is triggered on the basis of a certain threshold being reached resulting in immediate payout without the long process of surveying and then payout,” he explained, referring to traditional insurance schemes that rely on time-consuming damage assessment surveys to determine compensation.

Not only does our e-newsletter highlight NextBillion's top articles, jobs and events, we also offer regular ticket giveaways to some of the key conferences in social impact – we've given away over $20,000 in tickets so far. Subscribe today!

No Thanks

Thank you for signing up to receive the NextBillion Notes newsletter.

We respect your privacy. Your information is safe and will never be shared.